5 ms·

I wouldn’t say it is necessarily considered good. Someone or something is always working for it.

n4r9 5y ago
If you buy a vacant property and hold onto it until population growth and lack of development brings prices up, who is working?
- Jensson 5y ago
  New entrants, the people who have to pay a million dollars for a small house has to work for that million.
  - n4r9 5y ago
    I don't think that makes sense. It applies to almost any transaction. Those people will be working and earning regardless, it's just that a higher proportion of their income will be devoted to accommodation.
- antihero 5y ago
  Whoever buys it or rents it
ianai 5y ago
Every company out there has, wants, or wishes they could transform their goods or services into recurring revenue. The Apple “cloud” pivot contributed heavily to their market cap growth to and above 1T. Literal rent seeking.
- simonh 5y ago
  Providing a service is working. Updating maps; upgrading software; enhancing services; improving security; supporting, provisioning and refreshing back end hardware. That’s all work. They have thousands of employees and thousands more contractors working on maps alone, and that’s not even a paid product.
  - ianai 5y ago
    Right and you don’t own anything. Just purchase some amount of service periodically at a steep markup. The mbas saw what was going on in services and wanted to turn everything into a similarly periodic transaction.
    - simonh 5y ago
      I have an iPhone, don't pay a penny in recurring services, and it all works fine. I do have a Backblaze subscription for my desktop, which I'm very happy with. With private relay I'm seriously considering signing up with a paid iCloud account though. I mean how is that abusive, but a paid VPN subscription is considered a leet hacker move for those in the know? It's just snobbery.
      - shiomiru 5y ago
        > I mean how is that abusive, but a paid VPN subscription is considered a leet hacker move for those in the know? From what I've seen it's not really those "in the know", but rather those convinced by half-assed explanations of what paid VPN subscriptions do by YouTube sponsorships.
  - goodpoint 5y ago
    Not at all. The majority of the profit of new-feudal companies come from a dominant position on the market. Same as rent-seeking when you own 80% of a city. The cost of the work required to provide those services is marginal - as clearly proven by the big profit margins. Oh and those "free" services are paid by selling your privacy.
    - simonh 5y ago
      I was addressing the actual example given, so yes, ‘at all’. The fact there are other companies that are rent seeking is a separate point. You’re seriously saying Apple specifically, the company called out, sells privacy? Do tell. As for Market dominance, since when was being popular and making products a lot of people like and value somehow abhorrent?
- keenboy 5y ago
  That’s not what rent-seeking means https://www.econlib.org/library/Enc/RentSeeking.html https://www.econlib.org/library/Enc/RentSeeking.html

n4r9 5y ago

If you buy a vacant property and hold onto it until population growth and lack of development brings prices up, who is working?

Jensson 5y ago
New entrants, the people who have to pay a million dollars for a small house has to work for that million.
- n4r9 5y ago
  I don't think that makes sense. It applies to almost any transaction. Those people will be working and earning regardless, it's just that a higher proportion of their income will be devoted to accommodation.
antihero 5y ago
Whoever buys it or rents it

ianai 5y ago

Every company out there has, wants, or wishes they could transform their goods or services into recurring revenue. The Apple “cloud” pivot contributed heavily to their market cap growth to and above 1T. Literal rent seeking.

simonh 5y ago
Providing a service is working. Updating maps; upgrading software; enhancing services; improving security; supporting, provisioning and refreshing back end hardware. That’s all work. They have thousands of employees and thousands more contractors working on maps alone, and that’s not even a paid product.
- ianai 5y ago
  Right and you don’t own anything. Just purchase some amount of service periodically at a steep markup. The mbas saw what was going on in services and wanted to turn everything into a similarly periodic transaction.
  - simonh 5y ago
    I have an iPhone, don't pay a penny in recurring services, and it all works fine. I do have a Backblaze subscription for my desktop, which I'm very happy with. With private relay I'm seriously considering signing up with a paid iCloud account though. I mean how is that abusive, but a paid VPN subscription is considered a leet hacker move for those in the know? It's just snobbery.
    - shiomiru 5y ago
      > I mean how is that abusive, but a paid VPN subscription is considered a leet hacker move for those in the know? From what I've seen it's not really those "in the know", but rather those convinced by half-assed explanations of what paid VPN subscriptions do by YouTube sponsorships.
- goodpoint 5y ago
  Not at all. The majority of the profit of new-feudal companies come from a dominant position on the market. Same as rent-seeking when you own 80% of a city. The cost of the work required to provide those services is marginal - as clearly proven by the big profit margins. Oh and those "free" services are paid by selling your privacy.
  - simonh 5y ago
    I was addressing the actual example given, so yes, ‘at all’. The fact there are other companies that are rent seeking is a separate point. You’re seriously saying Apple specifically, the company called out, sells privacy? Do tell. As for Market dominance, since when was being popular and making products a lot of people like and value somehow abhorrent?
keenboy 5y ago
That’s not what rent-seeking means https://www.econlib.org/library/Enc/RentSeeking.html https://www.econlib.org/library/Enc/RentSeeking.html